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Huge Wendy's and Pizza Hut franchisee files for bankruptcy

July 1, 2020. Summarized by summa-bot.

A Pizza Hut restaurant loction in Port St. Lucie, Florida, Thursday, June 25, 2020. Pizza Hut, a subsidiary of Yum! Brands, Inc., is an American restaurant chain and international franchise which was founded in 1958 in Wichita, Kansas. (AP Photo/NewsBase)

NPC International, the operator of 1,200 Pizza Hut and nearly 400 Wendy's restaurants in the United States, has filed for bankruptcy.

New York (CNN Business)NPC International, the operator of 1,200 Pizza Hut and nearly 400 Wendy's restaurants in the United States, has filed for bankruptcy.

Pizza Hut, of which NPC is the company's largest franchisee, has also been struggling with sales recently.

NPC's restaurants will continue to operate while it navigates the Chapter 11 process.

In a statement to CNN Business, Pizza Hut said the filing "was expected" and remains supportive of NPC.

"As NPC works through this process, we support an outcome resulting in an organization with a lower, more sustainable level of debt, ownership focus on operational excellence and a greater level of restaurant investment," a Pizza Hut spokesperson said.

Pizza Hut, which is owned by Yum!

Brands (YUM), pointed toward a recent filing showing that sales at its US restaurants open at least a year have begun rebounding off their March lows.

Pizza Hut has 7,100 restaurants in the United States.

NPC operates only a small portion of Wendy's roughly 6,500 US restaurants.

NPC is the latest US company to file for bankruptcy during the Covid-19 pandemic.

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